Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Markets in Asia fell on Wednesday morning after U.S. Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.Asia Marketsread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Acting Customs and Border Protection Commissioner John Sanders is resigning amid the furor over the Trump administration's treatment of migrant children.Politicsread more
NBC is taking the office back from Netflix as it seeks to bolster its own streaming service launching in 2020.Technologyread more
Wayfair employees plan to walk out tomorrow, after no action was taken in response to their opposition to the company supplying border detention camps with beds for children.Retailread more
Micron beat analyst estimates on earnings and revenue for its fiscal third quarter of 2019.Technologyread more
Even as cryptocurrencies are getting crushed, Amazon sees plenty of opportunity with blockchain technology.
The company said on Wednesday that it's introducing two new services, including a managed blockchain offering, to let Amazon Web Services customers set up "a scalable blockchain network with just a few clicks" that "automatically scales to meet the demands of thousands of applications running millions of transactions."
Blockchain is a software protocol that underpins cryptocurrencies like bitcoin. Also called distributed ledger technology, its potential has been compared to the internet — but the hype has outpaced reality. Outside of cryptocurrencies, few commercially viable products have been built on blockchain to date, and crypto prices have plunged, with bitcoin losing almost 70 percent of its value in 2018. Meanwhile, Cowen estimates it will take almost six years for blockchain to gain widespread adoption.
Amazon's new product will support two popular existing blockchain platforms — Ethereum and Hyperledger Fabric. Ethereum is a popular open-source building platform for developers, linked to the cryptocurrency ether, while corporate giants including IBM are currently building projects on Hyperledger.
"We don't build things for optics," AWS CEO Andy Jassy said on Wednesday at the company's re:Invent conference in Las Vegas. Jassy said AWS only spends resources on something when they "understand the problem" and said, "this is something that a lot of companies need."
Walmart recently became one of the first retailers to explain how it will be using the technology. The company said it would require lettuce suppliers to upload data about their foods to blockchain within a year.
Still, Jassy said that AWS is responding to demand from existing customers. He pointed to mortgages, health-care records, supply chain tracking and vehicle history records as common customer use cases.
In addition to the managed blockchain product, AWS announced Amazon Quantum Ledger Database, or QLDB, where customers can replicate a copy of their blockchain network activity.
Amazon already leverages Ethereum on its cloud network, and in May announced a partnership with start-up Kaleido to make it easier for customers to put their services on blockchain. Microsoft offers customers "blockchain as a service" on its Azure cloud.